Muscat:According to Oman News Agency, gold prices experienced a decline today, with the precious metal headed for a monthly loss. This drop in gold prices is attributed to the anticipation of higher interest rates, which has affected investor sentiment.

Spot gold fell by 0.2% to $4,170.63 per ounce and has decreased by over 6% this month. In contrast, US gold futures saw a 0.5% increase, reaching $4,201.90.

Additionally, other metals also faced declines. Spot silver decreased by 0.8% to $60.98, while platinum remained stable at $1,705.10, and palladium dropped by 0.3% to $1,219.60. All three metals are also on track for monthly declines. Investors are now awaiting the upcoming US inflation data for further insights into the Federal Reserve's potential policy decisions.